Frequently Asked Questions

Akron Community Foundation is a philanthropic endowment established in 1955 that manages and invests charitable funds established by individuals, families, businesses and nonprofit organizations. To date, the foundation and our funds have awarded $158 million in grants to qualified nonprofit organizations.

A community foundation is a flexible, yet permanent collection of funds supported by a wide range of donors. Community foundations make grants to nonprofit community groups from funds established by individuals, families, businesses and others. There are more than 1,200 community foundations across the United States and dozens more throughout the world.

The community foundation offers more charitable products than commercial funds, including permanent endowments that honor a family’s legacy. The community foundation offers personal assistance and expertise in local issues and nonprofits that national funds cannot match. Akron Community Foundation also provides social, networking and leadership opportunities.

A fund at Akron Community Foundation is less costly, in terms of both time and money, to establish than a private foundation. The foundation can help your clients establish their own donor-advised fund in about 15 minutes, with a minimum gift of just $5,000. Establishing a private foundation can take months or longer, and your clients would be responsible for substantial legal, accounting and operational matters.

Most professional advisors find the community foundation’s flexible services extremely valuable. We can find answers to most charitable giving questions faster and more comprehensively than any other source. We can simplify the administration and paperwork involved with giving to virtually a single signature. We can help a family or company preserve their legacy forever.

Akron Community Foundation offers advisors and their clients an intensely personal, high-value experience. Through a relationship with the community foundation, advisors can assist their clients in making a difference in their community in ways the client values. The foundation can help your clients complete charitable agreements, with no out-of-pocket charges from us.

Donors can fulfill multiple charitable interests by contributing a variety of assets, including cash, stocks and property. You can also work with your clients on a wide variety of planned gifts through the community foundation. Donors can establish funds to honor a family legacy of giving or choose to remain totally anonymous to the public.

The community foundation offers six types of funds, one of which is almost sure to meet your clients' needs. The minimum amount required to open five of the funds is $5,000. For donors who want to be actively involved in grantmaking, donor-advised funds are the best choice.

We’re the best choice. Akron Community Foundation is committed to preserving the region’s remarkable legacy of giving. When your clients leave the foundation in their will, they can establish a fund in their name that will make grants to the causes and organizations they care about. The community foundation tells the stories of our fundholders through our website, publications, ebroadcasts, annual meetings, annual awards, public speaking and more every year.

The foundation is audited on an annual basis by Sikich. All audit reports are available in PDF form for download, or contact Steve Schloenbach, vice president and chief financial officer, for a paper copy.